Lattakia (727)


Inflation data for the month of June 2013, which were released only now by the Syrian government, confirm the surge in retail prices across all product segments.


Trading and manufacturing of plastic goods


Container traffic declined by almost half last year at the Lattakia Port over falling business activity.


The Syrian Investment Agency licensed last year 49 projects, most of which are located in safe areas of the country.


The production of Portland cement by Syrian state plants continues to be well below planned levels.


CMA-CGM is negotiating with the Syrian authorities to manage the container terminal of the Tartous Port as the owner of the global shipping company is fined by a Syrian court over a business dispute, according to press reports.


Syria’s higher education institutions have suffered losses of around 5 billion pounds since the beginning of the uprising, according to the Minister of Higher Education.


Real estate prices remain high in the coastal area where a growing number of Syrians find refuge.


Two new hospitality resorts are being established in Tartous and Lattakia, as the coastal area remains the only part of Syria to witness some form of limited investment.


Almost 50 percent of all Syrian companies are located in the governorates of Aleppo, Damascus and Damascus Countryside, records from the Ministry of Economy show.


Two new university faculties will be established in the coastal town of Tartous, raising further the number of government projects established in Syria’s coastal areas in recent months.


Syrianair has suspended all its flights to Egypt, the Egyptian Civil Aviation Authority has announced.


Data from the Syrian Investment Agency, and other anecdotal evidence, indicate that there has been an increase in recent weeks in the number of investment projects established in the coastal area.


The Port of Lattakia witnessed a dramatic decline in containers handled in the first nine months of this year.


Syrian officials have laid the foundation stone and inaugurated three projects in the Lattakia province, including two in the town of Qardaha, for a total value of over SYP 1.1 billion.


The freight volume in Tartous Port stood at 4.6 million tons in the first three quarters of this year, according to Ghazwan KheirBeik, the port’s general manager.


The US dollar has lost some 15 percent of its value relative to the Syrian Pound in the last two days as the Syrian currency gained strength following the UN resolution on Syria’s chemical stocks, which was seen as a victory for the Syrian authorities.


Freight and other maritime services


Syria’s citrus fruits production is expected to be on target this year as it will be little affected by the violence gripping the country.


The Syrian Investment Agency licensed only twelve investment projects in the first half of this year.


Shipping services


The Syrian President has appointed a new governor for the province of Lattakia.


Occupancy rates at Damascus hotels in 2012 were only a fifth of what they were two years earlier, according to a recently released report.


The Syrian President has issued a decree establishing a faculty of medicine in the coastal city of Tartous.


The coastal area is the only remaining part of Syria where some new investment projects are announced, including recently the development of two new tourism properties.


The Syrian Investment Agency has announced that it had licensed a mere eight projects in the first quarter of this year, less than 10 percent of the level two years ago.


Some 51,000 containers transited through the two ports of Lattakia and Tartous in the first quarter of this year, a marked decline from last year.


Cham Hotels, Syria’s largest hotel chain, witnessed a second consecutive dismal year in 2012 as Syria’s tourism industry remains distressed.


A government committee has completed the preliminary field works required for the establishment of an airport near the city of Tartous, according to local news outlets.


Hundreds of Syrian manufacturers are setting-up factories in Egypt, according to the Egyptian Minister of Industry.


The Syrian Government is establishing a new university faculty in the city of Suweida, one of fifteen new faculties established in the last two years.


The number of projects licensed last year by the Syrian Investment Agency declined 75 percent on an annual basis.


Trade activity in Syria’s free zones declined some 26 percent last year over the general contraction in business activity and rising violence witnessed across the country.


The General Establishment of Chemical Industries is the latest state body to post a significant drop in its 2012 revenues.


Traffic at Syria’s two commercial maritime ports fell sharply last year, according to the Deputy Minister of Transport.


ICTSI, the operator of one of Syria’s two commercial maritime ports, is pulling out of the country, citing the rising violence.


The Syrian government is establishing a new university faculty in the town of Salamieh, located in central Syria.


Kharafi National, a large engineering company, is withdrawing from the Syrian market, according to a local media outlet.


The clashes that forced the Damascus International Airport to close down for the week-end will likely have long-term effect on its operations.


The Syrian Pound continues to face pressures in the currency market in spite of an easing on foreign exchange transactions by the Central Bank of Syria.


The volume of freight in Tartous Port declined some 27 percent in the first ten months of the year, according to estimates from the Ministry of Transport.


The number of investment projects licensed by the Syrian Investment Agency declined 74 percent in the first nine months of 2012 compared to the same period of last year.


Souria Holding has suspended works on its Abraj Souria project in downtown Damascus, its CFO said.